Newsmaker of the week, Islip Pines

The $300 million mixed-use redevelopment of 130 acres in Holbrook has been on the drawing board for over seven years. This week, the Islip Planning Board unanimously approved Serota Properties‘ plans for the project, clearing the way for a potential rezoning decision by the Islip Town Board.

When completed, Islip Pines – which could take up to 10 years to build – is slated to have 350 residences, 1 million square feet of industrial/office space, 340,000 square feet of retail space, a hotel, a multiscreen movie theater, several athletic field and tennis courts, a community center, a 12.7-acre “great lawn” with an outdoor stage and a 30,000-square-foot open-air marketplace for farmers markets and other events.

Forget the traditional economic development benefits that come with that much development, and the expected $5.7 million in annual property tax benefits going to the cash-strapped to the Sachem School District. What we like most about this project is the jobs it will create.